The global industrial enzymes market is expected to see a compound annual growth rate of six per cent until 2015, a new study suggests.
Sandler Research analysed the sector, which contains the detergents, technical, food, beverages and animal feed segments, and estimated it to be worth $3.3 billion (£2.06 billion).
However, the group expects this figure to reach $4.4 billion (£2.75 billion) in four years time.
Animal feed manufacturers, brewing companies and groups in the baking industry, as well as those in the bioethanol market, are all set to drive the growth during this period.
Although use of industrial enzymes fell during the recession, the need to drive forward by reducing costs and advancing processes is increasing spending on these compounds, the study shows.
It was recently announced that the UK is soon set to open a plant that will turn organic household waste into industrial chemicals, the first of its kind in the country.
Typical Guttridge equipment used in the industrial enzymes industry includes; elevators – bucket elevators – valves
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